The PRZ for the large bearish shark has proven difficult for FB and now it's finally had a daily close below it, meaning the entire shark pattern is in play. Daily RSI has been diverging for awhile now so all it needed was a little shove in the right direction.
Notice how despite rallying hard off the bottom today, it simply could not break back inside the box. A short here would target the 0.5 retrace of the shark and gap fill around $148. SL is 166.70 if it manages to close back inside the box.
Would probably take a wider market selloff for this move to happen... but I think this and Boeing are just the first shoes to drop for this bubblicious market.
Notice how despite rallying hard off the bottom today, it simply could not break back inside the box. A short here would target the 0.5 retrace of the shark and gap fill around $148. SL is 166.70 if it manages to close back inside the box.
Would probably take a wider market selloff for this move to happen... but I think this and Boeing are just the first shoes to drop for this bubblicious market.
